Lantern Pharma (NASDAQ:LTRN) Now Covered by Analysts at Lake Street Capital

Analysts at Lake Street Capital assumed coverage on shares of Lantern Pharma (NASDAQ:LTRN) in a note issued to investors on Wednesday,Benzinga reports. The brokerage set a “buy” rating and a $25.00 price target on the stock.

Lantern Pharma Stock Down 5.0 %

Lantern Pharma stock opened at $3.25 on Wednesday. The company has a market capitalization of $35.05 million, a PE ratio of -1.83 and a beta of 1.64. Lantern Pharma has a 12-month low of $2.79 and a 12-month high of $8.90. The firm’s fifty day moving average is $4.20 and its 200 day moving average is $3.77.

Lantern Pharma (NASDAQ:LTRN) last posted its quarterly earnings results on Thursday, March 27th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.03). Sell-side analysts expect that Lantern Pharma will post -1.9 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BIOS Capital Management LP bought a new stake in shares of Lantern Pharma during the fourth quarter valued at approximately $3,853,000. Voss Capital LP acquired a new stake in Lantern Pharma in the 4th quarter valued at $160,000. Westside Investment Management Inc. increased its stake in Lantern Pharma by 166.5% during the 3rd quarter. Westside Investment Management Inc. now owns 30,650 shares of the company’s stock valued at $112,000 after purchasing an additional 19,150 shares in the last quarter. CM Management LLC raised its holdings in Lantern Pharma by 8.1% during the fourth quarter. CM Management LLC now owns 200,000 shares of the company’s stock worth $638,000 after buying an additional 15,000 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in Lantern Pharma during the fourth quarter worth $32,000. Institutional investors own 28.62% of the company’s stock.

Lantern Pharma Company Profile

Lantern Pharma Inc, a clinical stage biotechnology company, focuses on artificial intelligence, machine learning, and genomic data to streamline the drug development process. Its product pipeline comprises LP-300, which is in phase 2 clinical trial in combination therapy for never-smokers with non-small cell lung cancer adenocarcinoma; LP-184, which is in phase 1 clinical trial for the treatment of solid tumor, such as pancreatic, breast, bladder, and lung cancers, and glioblastoma and other central nervous system cancers; and LP-284, which is in phase 1 clinical trial for the treatment of non-Hodgkin's lymphomas, including mantle cell lymphoma and double hit lymphoma.